A Settlement in a 20-Year Legal Fight Could Make it Harder to Use Your Rewards Credit Card

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 10 November 2025

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Nov. 10. A settlement between merchants and Visa and Mastercard over interchange fees would let stores reject popular credit cards. WSJ reporter AnnaMaria Andriotis, who covers banking for the Journal, discusses why that’s a big change in the industry that could change how often you use premium credit cards. Plus, the longest government shutdown in U.S. history has an end in sight–and Democrats fuming at members of their own party. And while Hollywood box office has been in the doldrums after the pandemic, IMAX is an increasingly hot ticket. Alex Ossola hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Got one of those rewards credit cards?
0:05.6	Well, merchants could stop accepting them.
0:08.5	We're definitely entering a new era of credit card rules that could impact most, the vast
0:17.6	majority of credit cards with rewards programs out there.
0:22.4	Plus, there's a possible end to the government shutdown
0:25.1	that has Democrats furious at defectors within their own party.
0:29.5	And Hollywood may be struggling to bounce back after the pandemic,
0:33.0	but IMAX is booming.
0:35.3	It's Monday, November 10th.
0:37.2	I'm Alex Osala for the Wall Street Journal.
0:39.6	This is the PM edition of What's News, the top headlines and business stories that move the world today.
0:48.5	Do you have one of those premium rewards cards like the J.P. Morgan Chase Sapphire Reserve?
0:53.6	Well, stores could soon be
0:55.0	rejecting them. That's because of a settlement between merchants and Visa and MasterCard
1:00.1	in a legal fight over credit card swipe fees that dates back two decades. Anna Maria Andriotis,
1:05.7	who covers the banking sector for the journal, is here to talk about what this deal means for
1:09.7	merchants, banks, and the rest of us. So Anna Maria, should consumers be worried that these popular credit cards
1:16.2	won't be accepted in a lot of places? Possibly. And I say that because it's a complicated
1:21.8	question. We're definitely entering a new era of credit card rules that could impact most, the vast
1:32.5	majority of credit cards with rewards programs out there.
1:37.3	So let's back up for a second.
1:39.3	What was this case about?
	...

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